Canadian Lawyer InHouse

october 2014 22 INHOUSE to team up with Pemex. The rest of it, especially the prized deep- water offshore blocks, will be apportioned out in an open-acreage bid round, which is expected to happen in December 2015. "The main target of the reforms ul- timately is the deepwater," says Keays. "There's a recognition by Pemex and by the government that they don't necessarily have the expertise nor the capital to pursue the exploration of the deepwater on their own." Most of the international attention will be focused on the deepwater blocks, which are likely to fall into the hands of European and American majors. Canadian companies, says Keays, will likely have more of a role to play in other areas of industries. "After the deepwater, probably the next biggest piece would be the shale resources and unconventional," he says. "It's not a prize of the same magnitude as the deepwa- ter, it certainly is a key priority of the Mexi- can government to see the development of the shale industry there." South Texas, just across the border, has seen a boom in shale development over the past few years. Those same geologic formations stretch into Mexico, prompting many to expect a bo- nanza of development to take place there. Keays expects Pemex to retain much of this acreage and bring in foreign joint-ven- ture partners who have expertise in shale — a major opportunity for Canadian companies. "Shale has been something that has gained in prominence in the Western Ca- nadian basin over the last number of years and something that we're one of the leaders in internationally," he says. "There's recog- nition internationally that Canada has a lot to offer in those technologies and particu- larly with the service companies and their expertise and experience." He also expects Pemex to bring in foreign operators to help redevelop mature fi elds, an area that Canadian companies excel in. "A lot of the conventional plays in West- ern Canada involve mature fi elds and trying to extend the lives of those fi elds and try- ing to extract incremental production from those fi elds," he says. Oil and gas that is diffi cult to extract due to complex formations and geology is another area Keays expects extensive Cana- dian involvement. "When you look at shale development, mature fi elds, complex plays, those are the types of projects that lend themselves to small- and medium-sized companies, and that's an area where we have both the exper- tise and capital for lots of startups that could get into that sector," he says. Mexico has been trying to woo Cana- dian players down south for a number of years — in 2008 they opened a consulate in Calgary to further ties with the oil and gas sector. But Keays says while he is seeing a past few years. Those same geologic formations stretch into Mexico, prompting many to expect a bo- Keays expects Pemex to retain much of this acreage and bring in foreign joint-ven- ture partners who have expertise in shale — a major opportunity for Canadian companies. "Shale has been something that has gained in prominence in the Western Ca- Oil and gas that is diffi cult to extract AUTHORITATIVE. INNOVATIVE. TRUSTED. Available risk-free for 30 days Order online: www.carswell.com Call Toll-Free: 1-800-387-5164 In Toronto: 416-609-3800 Regulatory and Corporate Liability: From Due Diligence to Risk Management The Honourable Mr. Justice Todd L. Archibald, Kenneth E. Jull, and Kent W. Roach Limit the criminal liability Order # 804420-67439 $252 2 volume looseleaf supplemented book Anticipated upkeep cost – $213 per supplement 4-6 supplements per year Supplements invoiced separately 0-88804-420-8 00224JT-A47069-65203 Shipping and handling are extra. Price(s) subject to change without notice and subject to applicable taxes. Find out how to limit the regulatory and criminal liability of your organization and the risk of prosecution with this valuable resource. It offers an important perspective on the liability of corporations and other organizations in these contexts. Regulatory and Corporate Liability: From Due Diligence to Risk Management offers a comprehensive analysis of the following issues, including emerging principles of sentencing: • The distinction between principles of risk assessment and risk management • The defence of due diligence, and its wider application in corporate compliance • New business theory and technique to enhance corporate compliance • A suggested approach toward corporate and regulatory liability that combines risk management with restorative justice • In-depth analysis of Canadian Corruption of Foreign Public Officials Act (CFPOA) and suggestions for developing a risk management matrix for compliance

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